citi bonuses
anyone at citi not unimpressed by their bonus? talking about ones announced 13 Jan (not analyst ones). everyone i have spoken to says they are below expectations, potentially meaningfully.
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Can confirm (not impressed)
What did salary bumps look like above analyst level? I saw reports they’re trying to pay senior levels in as much deferred compensation as possible.
What does this even mean?
of course senior guys are paid in deferred comp, that’s how most banks do it via stock vesting
Here’s the quote from the earnings call that was on Friday. Obviously seniors have always had some degree of deferred comp, but appears they’re trying to make it no longer a mix, and truly all deferred comp.
“And then finally, and a topic I know you've been quite vocal around, we are also making changes to compensation. So, more of our senior business leaders will be on the PSUs for this coming year. We've moved to 100% deferred stock versus a mix of stock and cash in the geographies that we're permitted to do so.”
That’s not for banking or S&T - more for business unit heads and execs at the corporate level
no fucking banker would ever take a role with 100% deferred comp
Yes lol, this is for senior business leaders (I.e., the head of IB, not some POS MD in tech that is “head of North America software IB” or whatever bullshit title given to someone who barely made MD
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